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3+ best Interactive Brokers alternatives & competitors in 2024

Research the best alternatives to Interactive Brokers, compiled using a range of criteria, including cost, security, and user reviews.
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Updated: Jun 29, 2023
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Recent decisions by Interactive Brokers to restrict trading have led to many users looking for an alternate app to place trades.

Compare the cost of trading and the available range of financial markets to learn if you can trust Interactive Brokers, or whether it’s better to find the best Interactive Brokers alternative.

Quick take: best alternatives to Interactive Brokers 2024

  1. eToro: Best for beginners, copy-trading & demo-account
  2. Plus500: Best for international trading*
  3. Public: Best for sharing beginner trading ideas

Top 10 Interactive Brokers alternatives & similar sites

1. eToro. Best for beginners, copy-trading & demo-account

0% commission

Fees

$100

Minimum deposit

4,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Great for beginners, simple to set up and get started Competitive, industry-leading commissions Popular ‘Copy Portfolios’ function lets you follow top traders Excellent customer service, with live chat support provided
Comparatively high fees for withdrawals and account inactivity Does not integrate with the MetaTrader platform High spreads on some assets

Overview

We love eToro because it’s a trading platform built with beginners and casual traders in mind. The platform combines an interactive, social trading experience with an easy-to-use interface, making it ideal for novice traders.

The far-reaching catalog of more than 5,500 stocks and ETFs includes big names like Apple and Tesla, as well as smaller companies with high growth potential. You can start trading with as little as $10 using fractional shares if you’re on a tight budget.

One feature we particularly appreciate is the ability to interact with eToro’s 35 million users on any asset, market, or portfolio page. If you find traders whose strategies match your risk tolerance, you can copy their portfolios automatically using eToro’s flagship copy trading functionality. This is a great way to learn and potentially benefit from the expertise of more experienced traders.

If you don’t feel comfortable investing your cash straight away, you can use a free demo account, credited with $100,000 virtual dollars. This offers plenty of opportunities to try out a trading strategy that works for you across stocks, crypto, and options trading markets.

Highlights

Visit eToro eToro Review

eToro offers real assets only, no CFD products. eToro securities trading offered by eToro USA Securities, Inc. (‘the BD”), member of FINRA and SIPC. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Invezz.com is not an affiliate and may be compensated if you access certain products or services offered by the BD.

2. Plus500. Best for international trading*

From 0.08%

Fees

$100

Minimum deposit

3,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Free demo account for every user Secure broker, licensed by top-tier regulators Wide variety of CFDs to trade Several good risk management tools
No support on trading information and education Website isn’t brilliantly designed to help users find answers to their questions No MetaTrader trading platform compatibility

Overview

We love Plus500 because it is one of the industry’s most transparent and reliable brokers. Its fees are clear and you’ll know exactly what you will be paying before you make a trade. Its technology driven platform gives access to futures contracts for some of the biggest indices.

Plus500 has something for all types of traders, no matter what level of experience. Its low margin requirements (starting at $100) and different contracts make it a top choice for day traders. At the same time, its trading academy is packed with educational content, perfect for beginners just starting. 

One of the features we like most about Plus500 is its bonuses. Not only does it have a low minimum deposit of $100, but you’ll also have the option to receive a bonus the first time you add funds to your account, so you can stretch your money a little further.

For accurate instrument availability, visit plus500.com.

The fees: Plus500 charges a commission of $0.49 per Micro contract and $0.89 per Standard contract (per side). There is an Auto-Liquidation fee of $10 per contract. Other exchange fees may be applicable and can be found on the CME group website. 

*Based on a comparison of 60+ leading brokers and trading platforms.

Highlights

Visit Plus500 Plus500 Review

Buy or sell stock CFDs with Plus500. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

3. Public. Best for sharing beginner trading ideas

public.com logo

Spreads

Fees

$20

Minimum deposit

9,000

No. assets

No

Demo/virtual account

Pros & Cons

Commission free stock and ETF investing Share and compare your portfolio on a social trading platform Trade crypto, fractional shares, and alternative investments
You can't trade on margin or use leverage No forex, options, funds, metals, or bonds

Overview

We love Public because it’s a social platform where you can share trading tips and get ideas from other people. Public offers 9,000+ financial instruments, including cryptocurrencies and stocks from around the world.

Alongside a community of other investors all sharing their ideas, Public offers real time news and information so that you can see the full picture before you invest. And the assets don’t just include your run-of-the-mill assets; you can make alternative investments in things like handbags and comic books as well.

The fees: There are no fees for investing in stocks during regular trading hours in the US – 9.30am-4pm EST. There is a $2.99 fee for trades outside of regular hours.

Highlights

Visit Review
Cryptocurrency execution and custody services are provided by Apex Crypto LLC (NMLS ID 1828849) through a software licensing agreement between Apex Crypto LLC and Public Crypto LLC. Crypto trading on Public platforms is served by Public Crypto LLC and offered through APEX Crypto. Please ensure that you fully understand the risks involved before trading.

Compare similar apps to Interactive Brokers

We have assigned each Interactive Brokers alternative a rating to give you an idea of the overall service each trading platform provides. The score, alongside a snapshot of some important features, allow us to quickly summarise Interactive Brokers’s top competitors.

Interactive BrokerseToroTrading 212City Index
Minimum deposit$0£10£1£100
Trading feesYesYesNoYes
Tradable assets135,000+3,000+12,000+5,000+
Supported assetsStocks, forex, options, futures, ETFs, bondsCrypto, stocks,
forex, indices,
ETFs, NFTs
Stocks, forex
commodities, ETFs
Stocks, forex, commodities, indices, cryptocurrencies
Demo accountYesYesNoYes
Invezz rating4.34.63.74.2
Visit site > Visit site > Visit site > Visit site >

How the best Interactive Brokers alternative was found

We found alternative stock brokers to Interactive Brokers by reviewing what most closely matched Interactive Brokers in terms of the business model, licensing & operations, cost of trading, target audience, and financial markets available.

We ranked each alternative on these factors while taking into account all available user-reviews across services like Trustpilot, Reviews.io, and Sitejabber, to find the services that offered similar apps to Interactive Brokers.

Here are some more of the features we used to identify the best Interactive Brokers alternatives.

  • Best low fee Interactive Brokers alternatives. The main cost of using a stock broker comes from trading fees or commissions but there may be other fees as well. We considered the overall cost of using a different trading platform, including inactivity fees, spreads, and conversion fees.
  • Best Interactive Brokers alternatives for beginners. Beginner-friendly Interactive Brokers alternatives provide an intuitive app and trading experience that helps you make your first steps in trading. The most important feature it must offer is a free demo account, while features like copy or social trading can be useful as well.
  • Best Interactive Brokers competitors with similar products. We picked out trading platforms where the markets and number of assets available most closely resembled Interactive Brokers. Good Interactive Brokers alternatives offer a large, varied range of financial products.
  • Most secure Interactive Brokers alternative. All the Interactive Brokers competitors we recommend are regulated by top tier financial regulators to protect you and your money. We also look for similar apps to Interactive Brokers that are transparent about their finances and how they store customer funds.
  • Best Interactive Brokers competitors with highest user reviews & customer ratings. Real life experience of using a trading platform is important. We identified the most popular platforms by comparing those with the best average ratings and most positive user reviews.

Best low fee alternatives to Interactive Brokers

You don’t want to switch trading platforms only to pay more for the service. Here’s how Interactive Brokers alternatives compare in terms of how they make their money:

Interactive BrokerseToroTrading 212City Index
Trading feesYesYesNoYes
Inactivity feesYesYesNoNo
Rollover/overnight feesYesYes, on CFDsNoYes
Withdrawal feesYesYesNoNo
SpreadsYesYes, on certain assetsYesYes
Conversion feesYesYes, for non-USD currenciesNoYes

Best Interactive Brokers alternative for beginners

Interactive Brokers is targeted towards beginners, so any competitor should provide a helpful experience to new users as well. Here is a comparison of beginner-friendly features available from Interactive Brokers’ competitors:

Interactive BrokerseToroTrading 212City Index
Free demo accountYesYesYesYes
Video tutorialsYesYesNoYes
Copy tradingNoYesNoNo
Trading academyYesYesYesYes

Interactive Brokers competitors with similar products

A Interactive Brokers alternative should allow you to invest into a similar range of stock assets and financial markets. That way, you can invest in the same products even if you switch brokers. Here’s how the competitors compare to Interactive Brokers:

Interactive BrokerseToroTrading 212City Index
Currencies80+49180+84
Stocks130,000+311712,000+4,500+
ETFs10,000+31712,000+40+
Indices1,000+2021
Commodities10026274
Cryptocurrencies9735

Most secure Interactive Brokers alternative

Regulation is important because it offers you financial protection in the event that something happens to the broker, like a bankruptcy. Here are how the top alternatives fare against Interactive Brokers in terms of regulatory protection.

Interactive BrokerseToroTrading 212City Index
Africa regulationFSAS
Asia regulationFSAMAS
Australasia regulationASICASICASIC
European regulationFCAFCA, CySEC, DNB, AMF, OAM, MFSAFCA, CySEC, FSACySEC
North American regulationIIROC, SECFinCEN, FINRA
South American regulation

Best Interactive Brokers competitors with highest user reviews & customer ratings

We gathered data from independent review platforms to show what the experience of using a Interactive Brokers alternative was like for other people. 

This information can be a useful tool to help you decide which trading platform to use, but remember that there are many reasons why someone might have a good or bad experience with a service – and not all of them are the platform’s fault.

Interactive BrokerseToroTrading 212City Index
Trustpilot3.84.44.64
Reviews.io3.0
Sitejabber3.42.072.0
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Sources & references
Risk disclaimer
Max Adams
Editor of Education
Max was the Editor of Education for Invezz from 2019-2021, overseeing the wider investment educational strategy. He has written for financial publications for over 5 years,... read more.